Engine mount: stripped thread

[headdead]

2001 Boxster S 3.2 6speed 87000 miles

While replacing the engine mount I stripped (or discovered the PO had stripped) the threads in the case which receive the lower driveside bolt holding the engine mount and oil pump housing to the the case. Serious bummer. "Other than that, Mrs Lincoln, how was the play?"
The bolt is about 5 or 6 inches long. It is driven from front to rear, passing through the engine mount, oil pump housing and then into threads in the block. (It's the bolt hole in the middle of Wayne's LEFT hand in the attched stolen picture.) The threads are too far (I think) to reach with a Heli-coil.

Choices:
1) live with only 3 of the 4 bolts holding the engine to the mount. I am not very comfortable with this, even though I have not stopped driving it.
2) Remove the engine mount; tap the oil pump housing and bolt the eng mount to the oil pump housing with a shorter 10x1.5 bolt. This is the second easiest solution, but it would load the oil pump housing rather than the engine case, as designed. There would be a larger moment to react. I am considering this route.
3) Remove the engine mount; install a Time-sert in the oil pump housing, rather than simply tapping it as in #2. This would be a stronger condition, but it would still transfer a bigger moment than it was designed for.
4) Remove the engine mount; remove the oil pump; remove the oil pump housing. Install a 10x1.5 Time Sert in the engine case, in place of the stripped threads.

I prefer the last approach. I would be working under the car, on my back, but it looks possible. It seems a bit risky since I have never tapped anything before. Of course, that probably won't stop me. If I didn't want to learn anything new I wouldn't buy Porsches. I think taking it to a shop might be cost prohibitive but I may explore it.

Question:
Is it possible to remove the oil pump and oil pump housing from the front of the engine without dropping the engine? (See Wayne removing it in the photo below, with the engine removed from the car.) I think I can get to the bolts from behind the seat and from under the vehicle; with the engine mount removed I can drop the engine a few inches to help with access. Has anybody done this yet?

Question:
Would I need to be careful about damaging the front Intermediate Shaft bearing, the oil pump, or anything else?

Question: How bad would it be to tap or install a Time Sert in the oil pump housing, rather than in the block (#2 or #3 above)? Where would I find a 10 x 1.5 x 2" bolt?

All comments appreciated, especially options I have not come up with...

[feelyx]

Item # 59635, 6" overall pully taps (plug style)-right hand fractional and metric sizes on Tapco Taps

http://www.ezlok.com/InsertsMetal/carbonSteel.html